By Sarah Lizee
Olympia, Wash., Oct. 3 – Morgan Stanley Finance LLC priced $1 million of callable contingent income securities due Sept. 27, 2022 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Every six months, the notes will pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.
If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par plus the final coupon.
If any index finishes below its barrier level, investors will lose 1% for every 1% decline of the lesser performing index.
After six months, the notes will be callable at par on any coupon payment date.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
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| Amount: | $1 million
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| Maturity: | Sept. 27, 2022
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| Coupon: | 7.25% per year, payable every six months if each index closes at or above its coupon barrier level on the observation date that period
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above barrier level; if any index finishes below barrier level, 1% for every 1% decline of the lesser performing index
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| Call option: | After six months, at par on any semiannual date
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| Initial levels: | 1,559.765 for Russell, 3,571.39 for Stoxx
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| Coupon barrier/final barriers: | 1,091.836 for Russell, 2,499.973 for Stoxx; 70% of initial levels
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 61769HSR7
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